Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1887-01-28
The Husmsl Reserve fund Life Az
sO<latiOu.

NEw YonK, January 81, 1SS7.-Thc
Mutual Reserve Fund Life-lnsurance
Association has just held its sev..
enth annual meeting. Prominent
officers and policy-holders were pres
ent from every State and every
city of importance in the Union
and Canada. President f. B. Har-
per read the annual address, pre-
senting therein some facts and figures
which astonished his listeners, and were
enthusiastically applauded. Mr.. Har-
per said
1.-The Executive Committees report
shows that during the year 1864
wear noted for strikes and q conse-
auent business depression throughout
the country-the business OF the COM
panv exceeded $50, 900, ,000- S15, 900, 900
Of which was received from New York
State alone. This amount is larger than
was ever obtained in the State of New
York by any life-insurance organiza-
ton, and surpasses the entire busi'
ness of three fourths of all the
New York level premium COM
panios combined. The sixth year
Of the company's existence closed
with $3.50, ,0O0, 900 of insurance in force.
During the year 81, l49, l4O has been
paid on death claims, and 81 500, 900 Of
assets remain in the treasury, OF which
nearly 81, 100, 600 is in cash securities.
The tontine reserve fund exceeds 1892,
coo. and within the next thirty days
will reach round million. With the
wear 1887 the company enters upon
new lease of existence, with surplus
above all liabilities of 81, 200, 900. The
cash saved to members by the reduction
of life insurance as compared with the
rates charged by the level premium
companies for the same amount OF in
surance exceeds 212, 900, 900; yet, not
withstanding this great reduction, the
books of the company show q credit to
persistent members OF the 1881 class
equal to q dividend Of 33l per cent.
upon their entire assessment premiums
paid during the first five years of mem
bership. Every Legitimate death has
been promptly paid i'll full. The total
number Of certificates issued exceeds
90, 600, and not dollar has been lost
by defalcation or fraud. y
Mr.. Harper referred at some length
to the attacks on his company by the
level premium companies, and showed
bv comparison from the sworn state
ments of the latter and those of the
Mutual Reserve that upon every 81 900
of insurance the assured pays S62. .O3 IN
the level premium companies. while
in the Mutual Reserve the same
amount OF insurance costs the assured
but S12.35.
Again: The level premium compa-
nies expend 81. Al for expenses for each
81, 900 Of insurance in force, while that
spent by the Mutual Reserve was 81. 80
for the same amount He was con-
fident that the verdict would not favor
\ system that expends but one fourth
Of its assets for the benefit Of its policy
holders, and puts the remaining three
fourths in the company's pockets.
Addresses highly complimentary 70
Mr.. Harper's report were made, and
the following paragraph III the opening
of his address WAS unanimously EN-
dorsed:
The never-cessing and ever-in
creasing triumphant march OF thu
Association from success unto success
from victory unto victory, overcoming
all obstacles, surmounting all impedi'
ments. continues to be the wonder OF
our enemies, and calls forth admira
tion and commendation from oul
fri.u1c -